Property values are constantly moving up and down.
In most cases, home values appreciate in the long term.
But, of course, there are no "sure things" in real estate.
When your house appreciates you have more equity to borrow against, and you'll see a larger profit when you sell.
But how do you know what you're investing in right now will appreciate over time? Property values in Burlington fluctuate for numerous reasons.
Choosing a real estate agent in Burlington who can identify the factors that influence local prices is the most important thing.
What is the top factor affecting real estate appreciation? Many assume that it's the economy.
interest rates, unemployment, business growth, government programs and a handful of other national determinants have a measurable impact on your property's value.
But the most important issues that determine your house's value depend on the local Burlington economy and housing market.
Access to services - Being close to schools, jobs and amenities like shopping, restaurants and entertainment is important to a lot of us and will greatly influence home values.
So when it comes to holding their value, these communities consistently appreciate much more reliably than areas lacking key features.
Recent home sales - You should receive stats on the recent real estate sales in the districts that you'd like to live in from your agent. You'll want to learn figures like how long a house stays on the market and asking price as opposed to selling price.
Appreciation history - Have home prices increased or decreased over the past 5-10 years? Is the neighborhood believed to be desirable because of its location or affordability?
Local economy - Is there a fair combination of business in an area, or does it depend on just one industry? Have companies moved into or away from an area? Are local companies hiring?
These items play a part.